Dampier Gold Limited (ASX: DAU) is a gold exploration and mining company with several major exploration projects and one development project, namely a farm-in Joint Venture on the K2/Marymia Gold Mine in the East Murchison Goldfields in Western Australia. For the K2 Project, Dampier has Milestone and Royalty Payments entitlements of A$6M plus the right to earn up to 50% interest in the Project for the expenditure of up to A$3M.

To view Investor Presentation January 2020 - Click Here.

Dampier’s advanced highly prospective projects:

  • Marymia/K2 Gold Project:
    • K2 Gold Project (4.1% owned, with JV to earn up to 50%) with near-term production starting from ~50koz.
    • Milestone Payments due to Dampier - $4M.
    • Royalty Payments due to Dampier - $2M.
  • Zuleika JV Gold Project (JV to earn 75%)
  • Credo Well JV Gold Project (JV to earn 50%)
  • Menzies Gold Project (80%)
  • Goongarrie Gold Project (80%)
  • Ruby Plains Gold Project (100%)

Dampier aims to be a gold producer within 3 years.

Zuleika Gold Project JV:

Dampier has farm-in rights to earn up to 75% interest in the Zuleika tenements held by Torian Resources Ltd (Torian) over 4 years as follows:

  • Earn initial interest of 30% by spending $1M on the project (year 1), then additional 15% interest each year by spending a further $1M per year on the project to earn up to 75% (year 4).
  • On completion the farm-in will convert to an unincorporated JV.
  • Dampier to grant a convertible note debt instrument of A$500,000 to Torian at $0.01/share conversion rate.
  • Dampier to issue 10,000,000 2 year options to Torian at exercise price if $0.15 per option.

With more than 20M ounces of historical production, the Zuleika Shear is one of the most sought after gold regions in Australia. The largely ignored parallel Carnage Shear displays many of the same characteristicsMalcolm Carson, Dampier Gold Chairman.

Credo Well Gold Project JV:

Dampier has farm-in rights to earn up to 50% interest in the Credo tenements held by Torian over 4 years as follows:

  • Earn initial interest of 25% by spending $0.5M on the project (year 1), then additional total 25% interest by spending a further $0.5M on the project each following year to earn up to 50% (year 4).
  • On completion the farm-in will convert to an unincorporated JV.
  • Dampier will have a casting vote in the JV when it holds interest of 50% or more.

Dampier’s enterprise value of A$4M represents a significant discount to the value of its assets.

 
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